32702 Highway 22 · Charleston, AR 72933

$194,900

3 bd · 2.0 ba · 1,941 sqft · SingleFamily public records · 138 Days on market

Built 1970 0.75 ac lot Est $274k · 29% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +8.1/30.0
• Schools +3.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.2/10.0

Listing remarks MLS

Enjoy rural living without being too far from your daily conveniences in Sebastian County on 3/4 acre. This 3 bedroom, tile walk-in shower in the primary bath & combo tub/shower in guest bath, split-floor plan. Relax in one of the two main living areas, with a wood burning fireplace, quartz countertops in the kitchen, stainless steel appliances, wood-privacy fence yard, storage building, & so much more. Come experience all this home has to offer for your yourself with a blend of rural/city enjoyments.

Key facts

• Double sinks
• Quartz countertops
• Newer cabinets

Tags

• NEWER CABINETS
• QUARTZ COUNTERTOPS
• UNDER CABINET LIGHTING
• REMODELED MASTER SUITE
• DOUBLE SINKS
• WALK-IN SHOWER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $-187 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (16.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (37.9% below list).
• Recommended offer: $121k (37.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#70 in AR) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, amenities F, commute F.
• Charleston School District (rural): math 46% / reading 43% proficiency, ranked #39 of 238 in AR (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Charleston Elementary School (math 56% / reading 41%, grade D, #109 of 454 statewide, top 25%, 454 students, 47% FRL); Charleston High School (math 38% / reading 46%, grade F, #38 of 292 statewide, top 14%, 435 students, 44% FRL).
• Market conditions: 51 active listings in the ZIP; 388 units permitted in Sebastian County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Sebastian County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,014 (37.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.62% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.10%
• DSCR: 0.82
• GRM: 13.4

CMA / ARV

• ARV (on-the-fly): $273,681
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4506 Timber Lake Lk	0.50mi	3/2.5	1,959 (+1%)	11mo	$385,000	$197	64
5307 S 252 Hwy	0.47mi	3/2.0	1,950 (+0%)	17mo	$255,000	$131	63
32500 Hwy 22	0.12mi	3/2.0	1,800 (-7%)	24mo	$225,000	$125	63
4814 Timber Lake Lk	0.41mi	3/2.0	1,832 (-6%)	21mo	$259,000	$141	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.3%
• Equity multiple: 2.73×
• Total profit: $94,161
• Equity at exit: $175,581

10-year hold

• IRR: 19.3%
• Equity multiple: 6.25×
• Total profit: $286,418
• Equity at exit: $378,648

Cash invested: $54,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 92 Strongly Landlord-Friendly
• State Arkansas: 92 Strongly Landlord-Friendly · R+14
• County: — inherits STATE
• City: — inherits STATE

Only US state where non-payment is criminal. Strongly landlord-favorable; very few tenant protections.

Methodology + full state rankings →

ZIP-level market 72933

• Home prices YoY: 5.8%
• Active inventory: 51
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $1,210 medium
• Mortgage (P&I): −$1,022
• Tax from tax record: −$39 /mo · $471/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-187

Break-even live

Break-even rent $1,446

Max offer price $161,952

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-04-28
   status Pending
2. 2026-03-09
   price $194,900
3. 2025-12-11
   listed $199,900 Active
4. 2025-11-12
   status Active
5. 2025-10-23
   price $200,000
6. 2025-09-09
   price $205,000
7. 2025-07-14
   price $215,000
8. 2025-06-03
   price $220,000
9. 2025-05-26
   price $222,000
10. 2025-05-09
    listed $225,000 Active
11. 2022-09-30
    soldstatus $184,000
12. 2022-09-27
    soldstatus $184,000 517-char remark

    Show marketing remark (517 chars)

    Enjoy rural living without being too far from your daily conveniences in Sebastian County on 3/4 acre. This 3 bedroom, tile walk-in shower in the primary bath & combo tub/shower in guest bath, split-floor plan. Relax in one of the two main living areas, with a wood burning fireplace, quartz countertops in the kitchen, stainless steel appliances, wood-privacy fence yard, storage building, & so much more. Come experience all this home has to offer for your yourself with a blend of rural/city enjoyments.

13. 2022-09-27
    soldstatus $184,000 Closed

    Show marketing remark (517 chars)

    Enjoy rural living without being too far from your daily conveniences in Sebastian County on 3/4 acre. This 3 bedroom, tile walk-in shower in the primary bath & combo tub/shower in guest bath, split-floor plan. Relax in one of the two main living areas, with a wood burning fireplace, quartz countertops in the kitchen, stainless steel appliances, wood-privacy fence yard, storage building, & so much more. Come experience all this home has to offer for your yourself with a blend of rural/city enjoyments.

14. 2022-08-07
    status Pending
15. 2022-07-27
    price $179,000
16. 2022-07-23
    status Active
17. 2022-05-11
    status Pending
18. 2022-03-14
    listed $179,000 517-char remark

    Show marketing remark (517 chars)

    Enjoy rural living without being too far from your daily conveniences in Sebastian County on 3/4 acre. This 3 bedroom, tile walk-in shower in the primary bath & combo tub/shower in guest bath, split-floor plan. Relax in one of the two main living areas, with a wood burning fireplace, quartz countertops in the kitchen, stainless steel appliances, wood-privacy fence yard, storage building, & so much more. Come experience all this home has to offer for your yourself with a blend of rural/city enjoyments.

19. 2022-03-14
    listed $184,000 Active

    Show marketing remark (517 chars)

    Enjoy rural living without being too far from your daily conveniences in Sebastian County on 3/4 acre. This 3 bedroom, tile walk-in shower in the primary bath & combo tub/shower in guest bath, split-floor plan. Relax in one of the two main living areas, with a wood burning fireplace, quartz countertops in the kitchen, stainless steel appliances, wood-privacy fence yard, storage building, & so much more. Come experience all this home has to offer for your yourself with a blend of rural/city enjoyments.

20. 2020-11-30
    soldstatus $152,500
21. 2020-11-23
    listed $159,900
22. 2012-05-18
    soldstatus $104,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AR · Resets to sale price

• Current annual tax: $471 · $39/mo
• Projected year-2 tax: $1,247 · $104/mo
• Expected delta: +$777/yr (+$65/mo · 164.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥113°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,522
• − Mortgage interest: −$10,917
• − Property taxes: −$471
• − Insurance: −$974
• − Repairs & maintenance: −$1,162
• − Management: −$1,162
• − Depreciation: −$5,670
• Taxable loss: −$5,834
• Est. tax savings @ 24.0%: +$1,400
• After-tax cash flow: $-838/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Charleston School District
• NCES district ID: 0504200
• Math proficiency: 46% ▼ -12.00%
• Reading proficiency: 43% ▼ -9.00%
• Median HH income: $47,155
• Composite: 37.97/100
• National rank: #4296
• State rank: #39 of 238 in AR

Livability — Charleston

• Score: 69/100
• State rank: #70
• US rank: #8583

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment D- Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,207

Population outlook (Sebastian County) Hauer SSP2

• Today (2025): 133,992 people
• By 2030: 136,620 · +2.0%
• By 2040: 140,832 · +5.1%
• By 2050: 143,301 · +6.9%
• By 2075: 147,964 · +10.4%
• By 2100: 145,848 · +8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 10% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Iranian 2% Italian 1%
• Foreign-born: 1%

Political lean MEDSL · Sebastian

• 2024 margin: Solid R (+37.5) · D 30.0% · R 67.6% · Other 2.4%
• 2008→2024 swing: -2.9pp toward R · 2008: -34.6pp · 2024: -37.5pp
• All cycles: 2024: R+37.5 2020: R+35.5 2016: R+38.1 2012: R+37.1 2008: R+34.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.06%
• Current HPI: 273.2222
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.80%
• F500 in state: 10

Industry mix (Fortune 500 HQ in AR)

Industry	F500 HQs	Revenue
▸Retail	1	$681B
▸Food / Agriculture	1	$53B
▸Retail / Energy	1	$22B
▸Transportation / Logistics	1	$12B
▸Energy	1	$4B

Price history

+87.4% since first listed

22 events — show timeline

• 2026-04-28 Pending — WRVBOR
• 2026-03-09 Price Changed $194,900 WRVBOR
• 2025-12-11 Listed $199,900 WRVBOR
• 2025-11-12 Relisted — WRVBOR
• 2025-10-23 Price Changed $200,000 WRVBOR
• 2025-09-09 Price Changed $205,000 WRVBOR
• 2025-07-14 Price Changed $215,000 WRVBOR
• 2025-06-03 Price Changed $220,000 WRVBOR
• 2025-05-26 Price Changed $222,000 WRVBOR
• 2025-05-09 Listed $225,000 WRVBOR
• 2022-09-30 Sold (Public Records) $184,000 Public Records
• 2022-09-27 Sold (MLS) $184,000 NWARMLS
• 2022-09-27 Sold (MLS) $184,000 WRVBOR
• 2022-08-07 Pending — NWARMLS
• 2022-07-27 Price Changed $179,000 NWARMLS
• 2022-07-23 Relisted — NWARMLS
• 2022-05-11 Pending — NWARMLS
• 2022-03-14 Listed $184,000 NWARMLS
• 2022-03-14 Listed $179,000 WRVBOR
• 2020-11-30 Sold (MLS) $152,500 WRVBOR
• 2020-11-23 Listed $159,900 WRVBOR
• 2012-05-18 Sold (Public Records) $104,000 Public Records

Property tax history

-4.2%/yr

Latest (2025): $471 · -9.7% YoY. Source: county tax records.